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As a result of the merger ING Bank (Switzerland) Ltd (“ING Bank”) has been fully absorbed by Bank Julius Baer & Co. Ltd. (“Bank Julius Baer”). This means that Bank Julius Baer has assumed the business of ING Bank and will continue the business operations under its own name. The technical migration of ING Bank’s IT platform to the Bank Julius Baer systems is expected to be finished by mid-year 2010.
Furthermore, ING Bank (Monaco) SAM has been re-branded to Bank Julius Baer (Monaco) SAM and ING Bank (Jersey) Limited to Bank Julius Baer (Jersey) Limited.
With this merger, the presence of the Julius Baer brand is significantly strengthened in the French-speaking part of Switzerland, in Monaco and the Channel Islands, further underlining Julius Baer’s position as the leading Swiss private banking group.